Sources of Funds

Stephany Griffith-Jones
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Stephany Griffith-Jones: University of Sussex

Chapter 3 in Global Capital Flows, 1998, pp 52-82 from Palgrave Macmillan

Abstract: Abstract The ultimate source of portfolio capital flows (both globally and to developing countries) originates in the wealth of individuals and of institutions. A very significant recent development in international financial markets is that individual investors have increasingly delegated the management of their assets to professional fund managers. As a consequence, the investor base in securities’ markets (in industrial countries, but increasingly also in developing countries) is dominated by a fairly small number of very large institutional investors. This institutionalization of savings is a major force behind the international diversification of portfolios, which has increased the sensitivity of securities markets — especially developing country ones — to the behaviour of a relatively small number of investors.

Keywords: Total Asset; Mutual Fund; Institutional Investor; Foreign Asset; International Diversification (search for similar items in EconPapers)
Date: 1998
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DOI: 10.1007/978-1-349-26912-9_3

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